The penny program is the industry-wide rule that sets the minimum quoting increment of listed options by class: a cent for the most active classes, five and ten cents for the rest.
Quantitative Finance · Glossary
All books
Apps
About
1
Primary & Middle School MathematicsGrades 1–9 Online
2
High School MathematicsGrades 10–12 Online
3
University Mathematics — Year 1Bachelor Year 1 Online
4
University Mathematics — Year 2Bachelor Year 2 Online
5
University Mathematics — Year 3Bachelor Year 3 Online
1
Primary & Middle School PhysicsGrades 1–9 Online
2
High School PhysicsGrades 10–12 Online
3
University Physics — Year 1Bachelor Year 1 Online
4
University Physics — Year 2Bachelor Year 2 Online
5
University Physics — Year 3Bachelor Year 3 Online
1
Primary & Middle School BiologyGrades 1–9 Online
2
High School BiologyGrades 10–12 Online
3
University Biology — Year 1Bachelor Year 1 Online
4
University Biology — Year 2Bachelor Year 2 Online
5
University Biology — Year 3Bachelor Year 3 Online
1
Markets I: The Ecosystem and Exchange-Traded MarketsMarkets Online
2
Markets II: Rates, FX and CreditMarkets Online
3
Markets III: Commodities, Energy and CryptoMarkets Online
4
Quantitative MethodsMethods Online
5
Derivatives and VolatilityDerivatives Online
6
Rates, Credit, XVA and RiskRates, credit & risk Online
7
Research Craft: Predictors, Backtests, Measurement, PortfoliosResearch Online
8
Strategies I: Equities and FuturesStrategies Online
9
Strategies II: Volatility, Relative Value, Macro and the Bank DesksStrategies Online
10
Microstructure and ExecutionExecution Online
11
Market Making and High-Frequency TradingMarket making Online
12
Machine Learning for MarketsMachine learning Online
13
Low-Latency SoftwareTechnology Online
14
Networks, Hardware and Trading InfrastructureTechnology Online
15
Research, Data and Risk PlatformsTechnology Online
16
The Desk and the FirmThe firm Online
17
The Industry: Firms, Roles and CareersCareers Online
18
The Interview BookCareers Online
Coach
Log in
Start reading